How to create a Ledger for the item

How to create a Ledger for the item Helps you create a Ledger for the Item Alok Patel

In order to create a ledger, you need to follow the given procedure

• On the dashboard, search for "Account Tree" in the universal bar (as shown in figure)

• Select the Ledger under which you want to create the item.

Note:We recommend creating the item under both "Income" as well as "Expense" ledger.

• Click on "Add Child" either under both the Ledgers or within the sub-ledger like Direct Expense,Indirect Expense,Direct Income,Indirect income ( as shown in figure)

Following modal will open up

• You need to add the name of the Charge/Item in "New Account Name"

Item should be named as "[Name of Item] - Income" and "[Name of Item} - Expense" for bifurcation.E.g. Ocean Freight Income, Ocean Freight Expense

You also need to enter the Account Type (Income Account/Expense Account) and set the currency as "INR" and click on "Create New".Your Item Ledger would be created

Note: You need to create ledger for both Income and Expense ledger.

 

In case you want to create a ledger group, you need to refer article "How to create Ledger Group"

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